Here are simplified financial statements for Watervan Corporation:

INCOME STATEMENT
(Figures in $ millions)
Net sales	$	883.00
Cost of goods sold		743.00
Depreciation		33.00
Earnings before interest and taxes (EBIT)	$	107.00
Interest expense		14.00
Income before tax	$	93.00
Taxes		19.53
Net income	$	73.47

BALANCE SHEET
(Figures in $ millions)
	End of Year				Start of Year
Assets
Current assets	$	371			$	316
Long-term assets		262				224
Total assets	$	633			$	540
Liabilities and shareholders equity
Current liabilities	$	196			$	159
Long-term debt		110				123
Shareholders equity		327				258
Total liabilities and shareholders equity	$	633			$	540

The companys cost of capital is 8.5%.

a. Calculate Watervans economic value added (EVA). (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)

b. What is the companys return on capital? (Use start-of-year rather than average capital.) (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

c. What is its return on equity? (Use start-of-year rather than average equity.) (Enter your answer as a percent rounded to 2 decimal places.)

d. Is the company creating value for its shareholders?